Providus Bank, a leading financial institution in Nigeria, has reaffirmed its commitment to fostering a sustainable export-driven economy.
The Managing Director/Chief Executive Officer, Mr. Walter Akpani, who articulated this vision in a welcome address delivered by Chief Risk Officer, Mr. Olugbile Erinwusi at the bank’s 4th Non-Oil Export Summit in Lagos, highlighted the financial institution’s strategic focus on enhancing Nigeria’s trade landscape.
The summit, themed “Non-Oil Export – The Past, The Present and The Future,” builds upon the successes of previous editions held in late 2022 and throughout 2023.
Akpani explained that the event serves as a platform for collaboration with key stakeholders across various sectors, including agribusiness, mining, metals and African fashion—areas pivotal to Nigeria’s non-oil export potential.
He highlighted several initiatives aimed at bolstering export activities, including tailored trade support services, streamlined processing of necessary export documentation and the establishment of a dedicated export desk for advisory and financing solutions. Notably, the bank is also implementing concessions on foreign exchange charges to enhance profitability for exporters.
He commended importers eager to pivot towards export activities, stating, “We remain committed to providing all supports within our reach.” This sentiment reflects Providus Bank’s broader strategy to lead in the export banking sector while aligning with Central Bank of Nigeria (CBN) objectives for sustainable economic growth.
The summit featured insights from Aliyu Bonu Sheriff, Special Assistant to the President on Export Expansion, who noted that the Federal Government has prioritized creating an enabling environment for exporters through reforms aimed at streamlining processes and improving infrastructure at critical ports. Sheriff announced plans for a national export seminar in early 2025 to further engage stakeholders in advancing Nigeria’s export landscape.
“We are creating a future where Nigeria thrives not only as an oil exporter but as a global leader in non-oil exports,” he asserted, emphasizing the importance of public-private partnerships and innovative solutions.
Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni, represented by Mr. Arnold Jackson, reiterated that non-oil exports could yield greater economic benefits than oil revenues. She stressed the need for Nigeria to harness its agricultural potential and bolster small and medium enterprises (SMEs) as part of its economic diversification efforts.
Ajibola Odusanya from the Nigeria Customs Service highlighted recent measures to facilitate exports, noting that 99 per cent of exports are exempt from customs duties. He pointed out that new electronic systems have significantly reduced port congestion, thereby enhancing export efficiency.
Adaora Nwonu from the Nigerian Shippers’ Council raised concerns about high shipping rates and emphasized the need for deliberate strategies to enhance competitiveness within the African Continental Free Trade Area (AfCFTA).
The summit concluded with two panel discussions featuring leading exporters and financial experts who shared insights on building a resilient and sustainable export economy in Nigeria.
